How to record Cr.Cd reimbursement of member for BI dues of club?

Thomas Hardy on

I entered each member's payment of dues under MEMBERS, then
the FEES tab, then the amount each paid in.

BUT, I then put the payment of ALL the dues payable, plus
the club dues, on my credit card, then wrote a check from
the club to myself for reimbursement.

How do I record my reimbursement on bivio, without
attributing to all members (whether equally or
proportionately) since all are not BI members?

Rip West on

If an expense is not to be borne by all members, it is not a partnership expense. Here is what you do. Enter the amount paid in by the members as a transfer from your Suspense account to your checking account. Enter the check paid to yourself for reimbursement in two entries. The portion representing the members' portion of the dues should be entered as a transfer from your checking account to the Suspense account. That wipes out the suspense account. Then enter the portion paid to you representing the club's share as an expense, allocated either proportionately or by member, as you wish. Finally, tell each member who contributed that they should claim that amount as an investment expense on their 1040.

Enter comments on all the above entries so you can document what is going on.

Rip West
Saint Paul, MN

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